Common use of Optional Purchase of Defaulted Mortgage Loans Clause in Contracts

Optional Purchase of Defaulted Mortgage Loans. (a) With respect to any Mortgage Loan which as of the first day of a Calendar Quarter is delinquent in payment by 90 days or more or is an REO Property, EMC shall have the right to purchase such Mortgage Loan from the Trust at a price equal to the Repurchase Price; provided however (i) that such Mortgage Loan is still 90 days or more delinquent or is an REO Property as of the date of such purchase and (ii) this purchase option, if not theretofore exercised, shall terminate on the date prior to the last day of the related Calendar Quarter. This purchase option, if not exercised, shall not be thereafter reinstated unless the delinquency is cured and the Mortgage Loan thereafter again becomes 90 days or more delinquent or becomes an REO Property, in which case the option shall again become exercisable as of the first day of the related Calendar Quarter. (b) If at any time EMC remits to the Master Servicer a payment for deposit in the Master Servicer Collection Account covering the amount of the Repurchase Price for such a Mortgage Loan, and EMC provides to the Trustee a certification signed by a Servicing Officer stating that the amount of such payment has been deposited in the Master Servicer Collection Account, then the Trustee shall execute the assignment of such Mortgage Loan to EMC at the request of EMC without recourse, representation or warranty and EMC shall succeed to all of the Trustee's right, title and interest in and to such Mortgage Loan, and all security and documents relative thereto. Such assignment shall be an assignment outright and not for security. EMC will thereupon own such Mortgage, and all such security and documents, free of any further obligation to the Trustee or the Certificateholders with respect thereto.

Optional Purchase of Defaulted Mortgage Loans. (a) With respect to any Mortgage Loan which as of the first day of a Calendar Fiscal Quarter is delinquent in payment by 90 120 days or more or is an REO Property, EMC the Company shall have the right to purchase such Mortgage Loan from the Trust at a price equal to the Repurchase Price; provided however (i) that such Mortgage Loan is still 90 120 days or more delinquent or is an REO Property as of the date of such purchase and (ii) this purchase option, if not theretofore exercised, shall terminate on the date prior to the last day of the related Calendar Fiscal Quarter. This purchase option, if not exercised, shall not be thereafter reinstated unless the delinquency is cured and the Mortgage Loan thereafter again becomes 90 120 days or more delinquent or becomes an REO Property, in which case the option shall again become exercisable as of the first day of the related Calendar Fiscal Quarter. (b) If at any time EMC the Company remits to the Master Servicer a payment for deposit in the Master Servicer Collection Distribution Account covering the amount of the Repurchase Price for such a Mortgage Loan, and EMC the Company provides to the Trustee a certification signed by a Servicing Officer stating that the amount of such payment has been deposited in the Master Servicer Collection Distribution Account, then the Trustee shall execute the assignment of such Mortgage Loan to EMC the Company at the request of EMC the Company without recourse, representation or warranty and EMC the Company shall succeed to all of the Trustee's ’s right, title and interest in and to such Mortgage Loan, and all security and documents relative thereto. Such assignment shall be an assignment outright and not for security. EMC The Company will thereupon own such Mortgage, and all such security and documents, free of any further obligation to the Trustee or the Certificateholders with respect thereto.

Optional Purchase of Defaulted Mortgage Loans. (a) With respect to any Mortgage Loan which as of the first day of a Calendar Fiscal Quarter is delinquent in payment by 90 days or more or is an REO Property, EMC shall have the right to purchase such Mortgage Loan from the Trust at a price equal to the Repurchase Price; provided however (i) that such Mortgage Loan is still 90 days or more delinquent or is an REO Property as of the date of such purchase and (ii) this purchase option, if not theretofore exercised, shall terminate on the date prior to the last day of the related Calendar Fiscal Quarter. This purchase option, if not exercised, shall not be thereafter reinstated unless the delinquency is cured and the Mortgage Loan thereafter again becomes 90 days or more delinquent or becomes an REO Property, in which case the option shall again become exercisable as of the first day of the related Calendar Fiscal Quarter. (b) If at any time EMC remits to the Master Servicer a payment for deposit in the Master Servicer Collection Distribution Account covering the amount of the Repurchase Price for such a Mortgage Loan, and EMC provides to the Trustee a certification signed by a Servicing Officer stating that the amount of such payment has been deposited in the Master Servicer Collection Distribution Account, then the Trustee shall execute the assignment of such Mortgage Loan prepared and delivered to EMC the Trustee, at the request of EMC EMC, without recourse, representation or warranty and warranty, to EMC which shall succeed to all of the Trustee's ’s right, title and interest in and to such Mortgage Loan, and all security and documents relative thereto. Such assignment shall be an assignment outright and not for security. EMC will thereupon own such Mortgage, and all such security and documents, free of any further obligation to the Trustee or the Certificateholders with respect thereto.

Optional Purchase of Defaulted Mortgage Loans. (a) With respect to any Mortgage Loan which as of the first day of a Calendar Quarter is delinquent in payment by 90 days or more or is an REO Property, EMC shall have the right to purchase such Mortgage Loan from the Trust at a price equal to the Repurchase Price; provided however (i) that such Mortgage Loan is still 90 days or more delinquent or is an REO Property as of the date of such purchase and (ii) this purchase option, if not theretofore exercised, shall terminate on the date prior to the last day of the related Calendar Quarter. This purchase option, if not exercised, shall not be thereafter reinstated unless the delinquency is cured and the Mortgage Loan thereafter again becomes 90 days or more delinquent or becomes an REO Property, in which case the option shall again become exercisable as of the first day of the related Calendar Quarter. (b) If at any time EMC remits to the Master Servicer a payment for deposit in the Master Servicer Collection Account covering the amount of the Repurchase Price for such a Mortgage Loan, and EMC provides to the Trustee a certification signed by a Servicing Officer stating that the amount of such payment has been deposited in the Master Servicer Collection Account, then the Trustee shall execute the assignment of such Mortgage Loan to EMC at the request of EMC without recourse, representation or warranty and EMC which shall succeed to all of the Trustee's right, title and interest in and to such Mortgage Loan, and all security and documents relative thereto. Such assignment shall be an assignment outright and not for security. EMC will thereupon own such Mortgage, and all such security and documents, free of any further obligation to the Trustee or the Certificateholders with respect thereto.

Optional Purchase of Defaulted Mortgage Loans. (a) With respect to any Mortgage Loan which as of the first day of a Calendar Fiscal Quarter is delinquent in payment by 90 days or more or is an REO Property, EMC the Servicer shall have the right to purchase such Mortgage Loan from the Trust at a price equal to the Repurchase Price; provided however (i) that such Mortgage Loan is still 90 days or more delinquent or is an REO Property as of the date of such purchase and (ii) this purchase option, if not theretofore exercised, shall terminate on the date prior to the last day of the related Calendar Fiscal Quarter. This purchase option, if not exercised, shall not be thereafter reinstated unless the delinquency is cured and the Mortgage Loan thereafter again becomes 90 days or more delinquent or becomes an REO Property, in which case the option shall again become exercisable as of the first day of the related Calendar Fiscal Quarter. (b) If at any time EMC the Servicer remits to the Master Servicer a payment for deposit in the Master Servicer Collection Account covering the amount of the Repurchase Price for such a Mortgage Loan, and EMC the Servicer provides to the Trustee a certification signed by a Servicing Officer stating that the amount of such payment has been deposited in the Master Servicer Collection Account, then the Trustee shall execute the assignment of such Mortgage Loan to EMC the Servicer at the request of EMC the Servicer without recourse, representation or warranty and EMC the Servicer shall succeed to all of the Trustee's ’s right, title and interest in and to such Mortgage Loan, and all security and documents relative thereto. Such assignment shall be an assignment outright and not for security. EMC The Servicer will thereupon own such Mortgage, and all such security and documents, free of any further obligation to the Trustee or the Certificateholders with respect thereto.

Optional Purchase of Defaulted Mortgage Loans. (a) With respect to any Mortgage Loan Loans which as of the first day of a Calendar Quarter is delinquent in payment by 90 91 days or more or is an REO Property, EMC the Seller shall have the right to purchase such Mortgage Loan or REO Property from the Trust at or a price equal to the Repurchase Purchase Price; provided however (i) that such Mortgage Loan is still 90 days or more delinquent or is an REO Property as of the date of such purchase and (ii) this purchase option, if not theretofore exercised, shall terminate on the date prior to the last day of the related Calendar Quarter. This purchase option, if not exercised, shall not be thereafter reinstated unless the delinquency is cured and the Mortgage Loan thereafter again becomes 90 days or more delinquent or becomes an REO Property, in which case the option shall again become exercisable as of the first day of the related Calendar Quarter. (b) . If at any time EMC the Seller remits to the Master Servicer Trustee a payment for deposit in the Master Servicer Collection Distribution Account covering the amount of the Repurchase Purchase Price for such a Mortgage Loan, and EMC provides to the Trustee a certification signed by a Servicing Officer stating that the amount of such payment has been deposited in the Master Servicer Collection Account, then the Trustee shall execute the assignment of such Mortgage Loan to EMC at the request of EMC the Seller without recourse, representation or warranty and EMC recourse to the Seller which shall succeed to all of the Trustee's right, title and interest in and to such Mortgage Loan, and all security and documents relative thereto. Such assignment shall be an assignment outright and not for security. EMC will thereupon own such Mortgage, and all such security and documents, free of any further obligation to the Trustee or the Certificateholders with respect thereto.for

Optional Purchase of Defaulted Mortgage Loans. (a) With respect to any Mortgage Loan which as of the first day of a Calendar Fiscal Quarter is delinquent in payment by 90 days or more or is an REO Property, EMC the Company shall have the right to purchase such Mortgage Loan from the Trust at a price equal to the Repurchase Price; provided however provided, however, (i) that such Mortgage Loan is still 90 days or more delinquent or is an REO Property as of the date of such purchase and (ii) this purchase option, if not theretofore exercised, shall terminate on the date prior to the last day of the related Calendar Fiscal Quarter. This purchase option, if not exercised, shall not be thereafter reinstated unless the delinquency is cured and the Mortgage Loan thereafter again becomes 90 days or more delinquent or becomes an REO Property, in which case the option shall again become exercisable as of the first day of the related Calendar Fiscal Quarter. (ba) If at any time EMC the Company remits to the Master Servicer a payment for deposit in the Master Servicer Collection Distribution Account covering the amount of the Repurchase Price for such a Mortgage Loan, and EMC the Company provides to the Trustee a certification signed by a Servicing Officer stating that the amount of such payment has been deposited in the Master Servicer Collection Distribution Account, then the Trustee shall execute the assignment of such Mortgage Loan to EMC the Company at the request of EMC the Company without recourse, representation or warranty and EMC the Company shall succeed to all of the Trustee's right, title and interest in and to such Mortgage Loan, and all security and documents relative thereto. Such assignment shall be an assignment outright and not for security. EMC The Company will thereupon own such Mortgage, and all such security and documents, free of any further obligation to the Trustee or the Certificateholders with respect thereto.

Optional Purchase of Defaulted Mortgage Loans. (a) With respect to any Mortgage Loan which as of the first day of a Calendar Fiscal Quarter is delinquent in payment by 90 days or more or is an REO Property, EMC the Company shall have the right to purchase such Mortgage Loan from the Trust at a price equal to the Repurchase Price; provided however provided, however, (i) that such Mortgage Loan is still 90 days or more delinquent or is an REO Property as of the date of such purchase and (ii) this purchase option, if not theretofore exercised, shall terminate on the date prior to the last day of the related Calendar Fiscal Quarter. This purchase option, if not exercised, shall not be thereafter reinstated unless the delinquency is cured and the Mortgage Loan thereafter again becomes 90 days or more delinquent or becomes an REO Property, in which case the option shall again become exercisable as of the first day of the related Calendar Fiscal Quarter. (b) If at any time EMC the Company remits to the Master Servicer a payment for deposit in the Master Servicer Collection Distribution Account covering the amount of the Repurchase Price for such a Mortgage Loan, and EMC the Company provides to the Trustee a certification signed by a Servicing Officer stating that the amount of such payment has been deposited in the Master Servicer Collection Distribution Account, then the Trustee shall execute the assignment of such Mortgage Loan to EMC the Company at the request of EMC the Company without recourse, representation or warranty and EMC the Company shall succeed to all of the Trustee's ’s right, title and interest in and to such Mortgage Loan, and all security and documents relative thereto. Such assignment shall be an assignment outright and not for security. EMC The Company will thereupon own such Mortgage, and all such security and documents, free of any further obligation to the Trustee or the Certificateholders with respect thereto.

Optional Purchase of Defaulted Mortgage Loans. (a) With respect to any Mortgage Loan which as of the first day of a Calendar Fiscal Quarter is delinquent in payment by 90 days or more or is an REO Property, EMC the Company shall have the right to purchase such Mortgage Loan from the Trust at a price equal to the Repurchase Price; provided however provided, however, (i) that such Mortgage Loan is still 90 days or more delinquent or is an REO Property as of the date of such purchase and (ii) this purchase option, if not theretofore exercised, shall terminate on the date prior to the last day of the related Calendar Fiscal Quarter. This purchase option, if not exercised, shall not be thereafter reinstated unless the delinquency is cured and the Mortgage Loan thereafter again becomes 90 days or more delinquent or becomes an REO Property, in which case the option shall again become exercisable as of the first day of the related Calendar Fiscal Quarter. (b) If at any time EMC the Company remits to the Master Servicer a payment for deposit in the Master Servicer Collection Distribution Account covering the amount of the Repurchase Price for such a Mortgage Loan, and EMC the Company provides to the Trustee a certification signed by a Servicing Officer stating that the amount of such payment has been deposited in the Master Servicer Collection Distribution Account, then the Trustee shall execute the assignment of such Mortgage Loan to EMC the Company at the request of EMC the Company without recourse, representation or warranty and EMC the Company shall succeed to all of the Trustee's ’s right, title and interest in and to such Mortgage Loan, and all security and documents relative thereto. Such assignment shall be an assignment outright and not for security. EMC The Company will thereupon own such Mortgage, and all such security and documents, free of any further obligation to the Trustee or the Certificateholders with respect thereto.. 88

Optional Purchase of Defaulted Mortgage Loans. (a) With respect to any Mortgage Loan which as of the first day of a Calendar Fiscal Quarter is delinquent Delinquent in payment by 90 days or more or is an REO Property, EMC the Company shall have the right to purchase such Mortgage Loan from the Trust at a price equal to the Repurchase Price; provided however provided, however, (i) that such Mortgage Loan is still 90 days or more delinquent Delinquent or is an REO Property as of the date of such purchase and (ii) this purchase option, if not theretofore exercised, shall terminate on the date prior to the last day of the related Calendar Fiscal Quarter. This purchase option, if not exercised, shall not be thereafter reinstated unless the delinquency is cured and the Mortgage Loan thereafter again becomes 90 days or more delinquent Delinquent or becomes an REO Property, in which case the option shall again become exercisable as of the first day of the related Calendar Fiscal Quarter. (b) If at any time EMC the Company remits to the Master Servicer a payment for deposit in the Master Servicer Collection Distribution Account covering the amount of the Repurchase Price for such a Mortgage Loan, and EMC the Company provides to the Trustee a certification signed by a Servicing Officer stating that the amount of such payment has been deposited in the Master Servicer Collection Distribution Account, then the Trustee shall execute the assignment of such Mortgage Loan to EMC the Company at the request of EMC the Company without recourse, representation or warranty and EMC the Company shall succeed to all of the Trustee's ’s right, title and interest in and to such Mortgage Loan, and all security and documents relative thereto. Such assignment shall be an assignment outright and not for security. EMC The Company will thereupon own such Mortgage, and all such security and documents, free of any further obligation to the Trustee or the Certificateholders with respect thereto.

Optional Purchase of Defaulted Mortgage Loans. (a) With respect to any Mortgage Loan which as of the first day of a Calendar Quarter is delinquent in payment by 90 days or more or is an REO Property, EMC the Servicer shall have the right to purchase such Mortgage Loan from the Trust Estate at a price equal to the Repurchase Price; provided however (i) that such Mortgage Loan is still 90 days or more delinquent or is an REO Property as of the date of such purchase and (ii) this purchase option, if not theretofore exercised, shall terminate on the date prior to the last day of the related Calendar Quarter. This purchase option, if not exercised, shall not be thereafter reinstated unless the delinquency is cured and the Mortgage Loan thereafter again becomes 90 days or more delinquent or becomes an REO Property, in which case the option shall again become exercisable as of the first day of the related Calendar Quarter. (b) If at any time EMC the Servicer remits to the Master Servicer a payment for deposit in the Master Servicer Collection Payment Account covering the amount of the Repurchase Price for such a Mortgage Loan, and EMC the Master Servicer provides to the Indenture Trustee a certification signed by a Servicing Officer stating that the amount of such payment has been deposited in the Master Servicer Collection Payment Account, then the Indenture Trustee shall execute the assignment of such Mortgage Loan to EMC at the request of EMC Servicer, without recourse, representation or warranty and EMC the Servicer shall succeed to all of the Indenture Trustee's right, title and interest in and to such Mortgage Loan, and all security and documents relative thereto. Such assignment shall be an assignment outright and not for security. EMC The Servicer will thereupon own such Mortgage, and all such security and documents, free of any further obligation to the Issuer, the Indenture Trustee or the Certificateholders Noteholders with respect thereto.

Optional Purchase of Defaulted Mortgage Loans. (a) With respect to any Mortgage Loan which as of the first day of a Calendar Fiscal Quarter is delinquent in payment by 90 days or more or is an REO Property, EMC the Seller shall have the right to purchase such Mortgage Loan from the Trust at a price equal to the Repurchase Purchase Price; provided however (i) that such Mortgage Loan is still 90 days or more delinquent or is an REO Property as of the date of such purchase and (ii) this purchase option, if not theretofore exercised, shall terminate on the date prior to the last day of the related Calendar Fiscal Quarter. This purchase option, if not exercised, shall not be thereafter reinstated unless the delinquency is cured and the Mortgage Loan thereafter again becomes 90 days or more delinquent or becomes an REO Property, in which case the option shall again become exercisable as of the first day of the related Calendar Fiscal Quarter. (b) If at any time EMC remits to the Master Servicer a payment for deposit in the Master Servicer Collection Distribution Account covering the amount of the Repurchase Price for such a Mortgage Loan, and EMC provides to the Trustee a certification signed by a Servicing Officer stating that the amount of such payment has been deposited in the Master Servicer Collection Distribution Account, then the Trustee shall execute the assignment of such Mortgage Loan prepared and delivered to EMC the Trustee, at the request of EMC EMC, without recourse, representation or warranty and warranty, to EMC which shall succeed to all of the Trustee's ’s right, title and interest in and to such Mortgage Loan, and all security and documents relative thereto. Such assignment shall be an assignment outright and not for security. EMC will thereupon own such Mortgage, and all such security and documents, free of any further obligation to the Trustee or the Certificateholders with respect thereto.

Optional Purchase of Defaulted Mortgage Loans. (a) With respect to any Mortgage Loan which as of the first day of a Calendar Fiscal Quarter is delinquent in payment by 90 days or more or is an REO Property, EMC the Company shall have the right to purchase such Mortgage Loan from the Trust at a price equal to the Repurchase Price; provided however provided, however, (i) that such Mortgage Loan is still 90 days or more delinquent or is an REO Property as of the date of such purchase and (ii) this purchase option, if not theretofore exercised, shall terminate on the date prior to the last day of the related Calendar Fiscal Quarter. This purchase option, if not exercised, shall not be thereafter reinstated unless the delinquency is cured and the Mortgage Loan thereafter again becomes 90 days or more delinquent or becomes an REO Property, in which case the option shall again become exercisable as of the first day of the related Calendar Fiscal Quarter. (b) If at any time EMC the Company remits to the Master Servicer a payment for deposit in the Master Servicer Collection Distribution Account covering the amount of the Repurchase Price for such a Mortgage Loan, and EMC the Company provides to the Trustee a certification signed by a Servicing Officer stating that the amount of such payment has been deposited in the Master Servicer Collection Distribution Account, then the Trustee shall execute the assignment of such Mortgage Loan to EMC the Company at the request of EMC the Company without recourse, representation or warranty and EMC the Company shall succeed to all of the Trustee's ’s right, title and interest in and to such Mortgage Loan, and all security and documents relative thereto. Such assignment shall be an assignment outright and not for security. EMC The Company will thereupon own such Mortgage, and all such security and documents, free of any further obligation to the Trustee or the Certificateholders with respect thereto.. 77

Optional Purchase of Defaulted Mortgage Loans. (a) With respect to any Mortgage Loan which as of the first day of a Calendar Fiscal Quarter is delinquent in payment by 90 days or more or is an REO Property, EMC the Company shall have the right to purchase such Mortgage Loan from the Trust at a price equal to the Repurchase Price; provided however provided, however, (i) that such Mortgage Loan is still 90 days or more delinquent or is an REO Property as of the date of such purchase and (ii) this purchase option, if not theretofore exercised, shall terminate on the date prior to the last day of the related Calendar Fiscal Quarter. This purchase option, if not exercised, shall not be thereafter reinstated unless the delinquency is cured and the Mortgage Loan thereafter again becomes 90 days or more delinquent or becomes an REO Property, in which case the option shall again become exercisable as of the first day of the related Calendar Fiscal Quarter. (b) If at any time EMC the Company remits to the Master Servicer a payment for deposit in the Master Servicer Collection Account covering the amount of the Repurchase Price for such a Mortgage Loan, and EMC the Company provides to the Trustee a certification signed by a Servicing Officer stating that the amount of such payment has been deposited in the Master Servicer Collection Account, then the Trustee shall execute the assignment of such Mortgage Loan to EMC the Company at the request of EMC the Company without recourse, representation or warranty and EMC the Company shall succeed to all of the Trustee's right, title and interest in and to such Mortgage Loan, and all security and documents relative thereto. Such assignment shall be an assignment outright and not for security. EMC The Company will thereupon own such Mortgage, and all such security and documents, free of any further obligation to the Trustee or the Certificateholders with respect thereto.

Optional Purchase of Defaulted Mortgage Loans. (a) With respect to any Mortgage Loan which as of the first day of a Calendar Fiscal Quarter is delinquent in payment by 90 days or more or is an REO Property, EMC shall have the right to purchase such Mortgage Loan from the Trust at a price equal to the Repurchase Purchase Price; provided however (i) that such Mortgage Loan is still 90 days or more delinquent or is an REO Property as of the date of such purchase and (ii) this purchase option, if not theretofore exercised, shall terminate on the date prior to the last day of the related Calendar Fiscal Quarter. This purchase option, if not exercised, shall not be thereafter reinstated unless the delinquency is cured and the Mortgage Loan thereafter again becomes 90 days or more delinquent or becomes an REO Property, in which case the option shall again become exercisable as of the first day of the related Calendar Fiscal Quarter. (b) If at any time EMC remits to the Master Servicer a payment for deposit in the Master Servicer Collection Distribution Account covering the amount of the Repurchase Purchase Price for such a Mortgage Loan, and EMC provides to the Trustee a certification signed by a Servicing Officer stating that the amount of such payment has been deposited in the Master Servicer Collection Distribution Account, then the Trustee shall execute the assignment of such Mortgage Loan prepared and delivered to EMC the Trustee, at the request of EMC EMC, without recourse, representation or warranty and warranty, to EMC which shall succeed to all of the Trustee's ’s right, title and interest in and to such Mortgage Loan, and all security and documents relative thereto. Such assignment shall be an assignment outright and not for security. EMC will thereupon own such Mortgage, and all such security and documents, free of any further obligation to the Trustee or the Certificateholders with respect thereto.

Optional Purchase of Defaulted Mortgage Loans. (a) With respect to any Mortgage Loan which as of the first day of a Calendar Fiscal Quarter is delinquent in payment by 90 days or more or is an REO Property, EMC the Company shall have the right to purchase such Mortgage Loan from the Trust at a price equal to the Repurchase Price; provided however provided, however, (i) that such Mortgage Loan is still 90 days or more delinquent or is an REO Property as of the date of such purchase and (ii) this purchase option, if not theretofore exercised, shall terminate on the date prior to the last day of the related Calendar Fiscal Quarter. This purchase option, if not exercised, shall not be thereafter reinstated unless the delinquency is cured and the Mortgage Loan thereafter again becomes 90 days or more delinquent or becomes an REO Property, in which case the option shall again become exercisable as of the first day of the related Calendar Fiscal Quarter. (b) If at any time EMC the Company remits to the Master Servicer a payment for deposit in the Master Servicer Collection Account covering the amount of the Repurchase Price for such a Mortgage Loan, and EMC the Company provides to the Trustee a certification signed by a Servicing Officer stating that the amount of such payment has been deposited in the Master Servicer Collection Account, then the Trustee shall execute the assignment of such Mortgage Loan to EMC the Company at the request of EMC the Company without recourse, representation or warranty and EMC the Company shall succeed to all of the Trustee's ’s right, title and interest in and to such Mortgage Loan, and all security and documents relative thereto. Such assignment shall be an assignment outright and not for security. EMC The Company will thereupon own such Mortgage, and all such security and documents, free of any further obligation to the Trustee or the Certificateholders with respect thereto.